Situation in the chemical industry deteriorated further

Bayer factory

The chemical industry is facing major challenges.

(Photo: dpa)

Munich The current business situation in the chemical industry continued to deteriorate in October. According to a company survey by the Ifo Institute, it fell to minus 19.9 points after minus 11.7 in September. The order backlog and demand continue to decline. “The high material costs can no longer be easily passed on to the sales prices and are depressing the earnings situation in the chemical industry,” said Ifo industry expert Anna Wolf on Thursday in Munich.

More and more companies rated their earnings situation as bad, at minus 28.5 points the value was as bad as in the Corona pandemic 2020. Every second company still sees the supply of preliminary products as critical. “At least the expectations have not deteriorated any further, for the first time in four months. They rose to minus 52.1 points after minus 57.0 in September,” said the economic researchers.

More: Recession could slow down the chemical industry’s green transition

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